- Pakistan founds a regulatory council for cryptocurrencies and thus follows the IMF’s recommendations to expand its tax system.
- The Council is intended to develop clear regulations, work with blockchain companies and actively promote innovations of the Pakistani crypto industry.
The Pakistani government has established the PCC (Pakistan Crypto Council) on March 15, an official, specific step to regulate the use of digital assets.
The Pakistan government has established the Pakistan Cryptocurrency Council (PCC) to oversee the integration and application of blockchain technology and digital assets in the country’s financial sector. Finance Minister Muhammad Aurangzeb will serve as the council’s chairman.…
— Wu Blockchain (@WuBlockchain) March 16, 2025
The role of the IMF
How CNF reportedthe PCC was proposed in February. The step was not a domestic initiative, but was driven by “recommendation” of the IMF. In order to increase state revenue, the IMF Pakistan has long been pushing to widen its tax base, including with the involvement of the crypto industry.
However, the council not only serves financial purposes. Pakistan has already dealt with blockchain technology to increase the efficiency of transfers.
Since Pakistani foreign workers send almost $ 31 billion home every year, the traditional system with high fees and constant transaction delays is a thorn in the side. A solution, the problem would be the transfer of money via blockchain.
Who is in the new regulatory council?
Finance Minister Muhammad Aurangzeb will be the chairman of the council, and Bilal bin Saqib will be CEO. In addition, the council includes the chairman of the Pakistani securities and stock exchange supervisory authority (SECP), the governor of the Pakistani State Bank as well as top officials from the areas of justice and information technology. This combination is intended to make a mixture of financial stability, technological innovation and regulatory control.
Setting up a safe and strong cryptoma market
With over 20 million active crypto users and a trading volume of more than $ 20 billion, Pakistan is not a small participant in the scene of digital assets. However, without clear rules, many industry participants have to struggle with legal ambiguity. The founding of the PCC gives hope that the country’s crypto ecosystem will grow more targeted and better preserve legal protection.
The priorities of the PCC for the near future include several important topics. The development of more clear rules for trading digital assets and investments is one of its main priorities. The Council will also work with global blockchain companies to ensure the use of best practices that could strengthen trust in the industry.
With the collaboration with FinTech startups and the developer community, innovations should also be stimulated so that Pakistan is internationally competitive. It is also important that the PCC aims for financial stability and investor protection through stricter rules so that the Pakistani cryptoma market can grow more controlled and safer.
Pakistan and India: two approaches, one goal?
If you compare Pakistan’s measures with the rather limited approach of India in terms of crypto, in recent years, it will be interesting. Because there have been changes there for a few months. One of the biggest crypto bonds in the USA, Coinbase, recently registered with the Indian Financial Intelligence Unit (FIU) and can now offer cryptoandel there.
It is even more remarkable that India has remained the leading country in the world in relation to the crypto adoption for the second year in a row. According to a Chainalysis analysis, the Indians actively act with digital assets-both centrally and decentrally-despite high taxes and strict regulation.
Could Pakistan follow the example of India? Or will you choose a more flexible strategy? Because of the rules to be developed, everything is open. This clearly shows that Pakistan wants to get involved in the digital revolution in the future.
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